RVforv' 


Library  of  the 
University    of    North  Carolina 

Endowed  by  the  Dialectic  and  Philan- 
thropic Societies. 


Co  3  8SM  -"RlU\ 


AMENDED    CHARTER 


OF  THE 


RALEIGH  AND  GASTON 

.  HAIL   ROAD    COMPANY. 


PASSED  By  THE  GENERAL  ASSExVIBLY,  At  THE 

SESSION  OF  1852. 


RALEIGH: 

PRINTED    AT  THE  OFFICE  OF  THE    "SOUTIIEKN  WEEKLY"  TOST." 


1853. 


Digitized  by  the  Internet  Archive 

in  2012  with  funding  from 

University  of  North  Carolina  at  Chapel  Hill 


■ 


http://www.archive.org/details/amendedcharterofOOnort 


AMENDED    CHARTER 


OF  THE 


RALEIGH  AND  GASTON 


RAIL  ROAD    COMPANY. 


PASSED  BY  THE  GENERAL  ASSEMBLY,  AT  THE 

SESSION  OF  1852. 


RALEIGH: 

PRINTED    AT  THE  OFFICE  OF  THE   "80UTHERN  WEEKLY  POST. 

1853. 


c 


TUtn't 


AMENDED  CHARTER. 


Whereas,  By  an  act  passed  at  the  session  of  the 
General  Assembly  for  the  year  1850-51,  entitled  "  An 
act  to  incorporate  the  Raleigh  and  Gaston  Railroad 
Company,"  certain  commissioners  were  appointed  to 
receive  subscriptions  of  stock  to  the  said  Raleigh  and 
Gaston  Railroad  Company,  to  the  amount  of  four  hun- 
dred thousand  dollars,  in  shares  of  one  hundred  dollars 
each  ;  and  whereas  the  said  commissioners  received 
such  subscriptions,  and  duly  returned  the  same,  where- 
upon such  procedinsrs  were  had  pursuant  to  the  pro- 
visions of  said  act,  as  to  form  the  said  subscribers  in- 
to a  body  politic  and  corporate,  under  the  name  and 
style  of  '•  The  Raleigh  and  Gaston  Railroad  Company;" 
and  whereas  there  are  in  the  said  act  sundry  omissions 
and  imperfections,  for  remedy  thereof, 

Sec.  1.  Be  it  enacted  by  the  General  Assembly  of 
the  State  of  North  Carolina,  and  it  is  hereby  enacted  by 
the  authority  of  the  same,  That  the  original  subscrib- 
ers to  the  stock  of  the  corporation  created  by  the  said 
act,  their  executors,  administrators  and  assigns  are 
hereby  declared  to  be  a  body  politic  and  corporate 
under  the  name  and  style  of  "  The  Raleigh  and  Gaston 
Railroad  Company,"  separate  and  distinct  from,  and 
wholly  unconnected  with  the  company  formerly  exist- 
ing by  the  same  name,  and  shall  have,  and  are  hereby 
declared  to  have  all  the  rights,  privileges  and   author- 


ities  of  a  body  politic  and  corporate,  and  by  that  name 
shall  be  capable  in  law  of  purchasing,  holding,  selling, 
and  conveying  estates,  real,  personal  and  mixed,  so  far 
as  shall  be  necessary  for  the  purpose  hereinaiter  men- 
tioned and  no  farther ;  and  shall  have  perpetual  suc- 
cession, and  by  said  corporate  name  may  sue  and  be 
sued,  may  have  and  use  a  common  seal,  and  may  from 
time  to  time,  make  all  such  by-laws,  rules  and  regula- 
tions as  may  be  neccessary  for  the  well  ordering  and 
conducting  of  the  affairs  of  the  said  corporation,  not 
inconsistent  with  the  constitution  and  laws  of  this 
State  nor  with  the  following  fundamental  terms  and 
conditions  to  wit : 

Sec  2  Be  it  further  enacted,  That  the  capital 
stock  of  said  company  shall  consist  of  eight  hundred 
thousand  dollars,  (except  as  hereinafter  provided,)  to 
be  held  as  follows,  to  wit  :  one-half  thereof,  or  four 
hundred  thousand  dollars,  by  the  State,  of  North  Caro- 
lina, in  consideration  of  the  transfer  and  assignment 
by  the  said  State,  as  hereinafter  provided,  to  the  said 
corporation,  of  that  railroad  heretofore  known  as  the 
Raleigh  and  Gaston  Railroad,  and  now  the  property 
of  the  said  State,  together  with  all  its  machine  shops, 
implements,  warehouses,  depots,  water  stations,  en- 
gines, and  every  other  description  of  property,  real, 
personal,  or  mixed,  appertaining  to  the  same  ;  and  the 
other  half  of  the  said  capital  shall  be  held  and  owned 
in  shares  of  one  hundred  dollars  each,  by  those  indi- 
viduals who  subscribed  for  the  same,  according  to  the 
returns  of  the  said  original  commissioners,  their  ex- 
ecutors, administators,  or  assigns  ;  and  whenever  it 
shall  appear  by  the  certificate  of  the  president  and 
treasurer  of  the  said  corporation  that  the  said  sum  of 
four  hundred  thousand  dollars  hath  been  actually  paid 


w 


5 

in  by  the  said  subscribers,  and  expended  by  the  said 
company  in  rebuilding  the  Raleigh  and  Gaston  Rail- 
road, with  an  iron  rail  weighing  not  le3s  than  fifty 
pounds  to  the  lineal  yard,  and  in  the  purchase  of  the 
necessary  cars,  engines,  and  other  suitable  materials 
for  properly  stocking  and  equipping  the  road,  so  as  to 
do  the  transportation  thereon,  then  it  shall  be  the  duty 
of  the  governor  of  the  State  for  the  time  being,  and 
he  is  hereby  authorized  and  required,  under  the  great 
seal  of  the  State,  to  transfer  and  convey  to  tie  said 
corporation  the  said  Raleigh  and  Gaston  Railroad, 
with  all  its  fixtures  and  equipments  hereinbefore  men- 
tioned. 

Sec  3.  Be  it  further  enacted,  That  the  State  of 
North  Carolina  shall  be  emitled  to  three  diiectors  in 
the  said  company,  to  be  annually  appointed  by  the 
board  of  internal  improvements,  and  at  the  annual 
meetings  of  said  company  the  individual  stockholders 
shall  have  power  and  authority  to  elect  four  directors, 
citizens  of  the  State,  who,  with  the  directors  >n  the 
part  of  the  State,  shall  have  power  to  elect  a  presi- 
dent out  of  their  own  body,  to  manage  all  the  affairs 
of  the  said  company,  and  '.he  said  directors  shad  con- 
tinue in  office  until  their  successors  shall  have  been 
elected.  The  president,  with  any  three  or  more  of  the 
directors,  or  in  the  absence  of  the  president,  any  lour 
of  the  directors,  who  shall  appoint  one  of  their  own 
body  president  pro  tern.,  shall  constitute  a  board  for 
the  transaction  of  business.  In  cases  ol  vacancy  in 
the  omce  of  president  or  any  director,  from  death, 
resignation,  or  otherwise,  such  vacancy  shall  be  sup 
plied  by  appointment  of  the  board  until  the  next  an- 
nual meeting:  Provided  That  whenever  the  State 
shall  transfer  its  stock,  in  whole  or  in  part,    the  State 


shall  have  only  one  director  for  every  thousand  [shares] 
which  it  may  retain  in  the  stock  of  said  company. 

Sec.  4.  Be  it  further  enacted,  That  an  annual 
meeting  of  the  subscribers  to  the  stock  of  the  said  com- 
pany, shall  be  held,  at  such  time  and  place  in  each 
year  as  the  stockholders,  at  their  general  or  at  any  sub- 
sequent meeting  may  appoint,  to  constitute  which,  or 
any  general  meeting  called  by  the  president  and  direc- 
tors according  the  provisions  of  this  act,  a  number  of 
persons  owning  a  majority  of  the  shares  of  stock  held 
by  individuals  in  said  corporation,  shall  be  present  ei- 
ther in  person  or  by  proxy  ;  and  if  a  sufficient  number 
to  constitute  a  meeting  do  not  attend  on  the  day  ap- 
pointed, those  who  do  attend  shall  have  power  to  ad- 
journ from   time  to  until   a  meeting  shall  be   formed. 

Sec.  5.  Be  it  further  enatced,  That  in  all  gen- 
eral meetings  of  the  said  company,  each  stockholder 
shall  be  entitled  to  give  one  vote  for  each  share  not 
exceeding  ten  shares,  and  one  vote  for  every  three 
shares  above  ten  shares ;  and  it  shall  be  lawful  for  the 
board  of  internal  improvements  to  appoint  some  suit- 
able person  to  represent  the  interest  of  the  State  in  all 
such  meetings,  who  shall  have  a  right  to  vote  on  all 
questions  coming  before  them,  except  in  the  election 
of  the  directors,  to  be  appointed  by  the  individual  stock- 
holders. 

Sec.  6.  Be  it  further  enacted,  That  the  said 
president  and  directors  shall  have  full  power  and  au- 
thority, to  make  contracts,  with  any  person  or  persons 
on  behalf  of  the  said  company  for  re-constructing  said 
road  and  performing  all  other  works,  which  from  time 
to  time  may  be  necessary  for  the  completion    and   re- 


pairs  of  the  said  road  ;  to  require  from  the  individual 
•tockholders  from  time  to  time  such  advances  of  money 
on  their  respective  shares,  as  the  wants  of  the  compa- 
ny may  demand  until  the  whole  of  their  subset  iptions 
shall  be  advanced  ;  to  call  on  any  emergency  a  general 
meeting  of  the  stockholders,  giving  one  month's  pre- 
vious notice  thereof,  in  one  or  more  newspapers  ;  to 
appoint  a  treasurer,  clerk,  and  other  officers,  as  they 
may  require,  and  generally  to  transact  all  the  necessa- 
ry business  of  the  company  during  the  intervals  be- 
tween the  general  meetings  of  the  stockholders  :  Pro- 
vided, That  no  loan,  which  may  be  equivalent  to  an 
increase  of  the  capital  stock  of  said  company,  and  for 
which  the  assignable  bonds,  or  other  securities  of  the 
said  company  are  to  be  given,  shall  be  made  by  the 
said  president  and  directors,  unless  such  loan  be  first 
authorized,  at  a  general  meeting  of  the  stockholders, 
and  in  the  event  of  such  loan  being  made  no  dividend 
shall  be  paid  upon  any  stock  holden  in  said  company 
until  the  interest  upon  such  debts  shall  have  been  paid 
or  reserved  out  of  the  profits;  and  a  sinking  fund  equiv- 
alent to  at  least  six  per  centum  per  annum,  on  such 
debt  shall  have  been  likewise  reserved,  to  be  invested 
by  the  president  and  directors,  in  some  good  and  valid 
security  :  Provided,  further,  That  all  loans,  which  may 
have  been  heretofore  or  may  be  hereafter  authorized 
by  the  said  stockholders  in  general  meeting,  shall  be 
valid  and  obligatory  upon  the  said  corporation. 

Sec.  7.  Be  it  further  enacted,  That  if  any  stock- 
holder shall  fail  to  pay  the  sum  required  of  him  by  the 
president  and  directors  within  one  month  after  the 
same  shall  have  [been]  advertised  in  one  or  more  con- 
venient newspapers,  it  shall  and  may  be  lawful  for  the 
said  president  and  diretors  to   sell    at   public    auction 


8 

and  to  convey  to  the  purchaser  the  share  or  shares  of 
such  stockholders  so  failing  giving  one  month's  pre- 
vious notice  of  the  time  and  place  of  sale  in  manner 
aforesaid,  and,  after  retaining  the  sum  due  and  charges 
of  sale  out  of  the  proceeds  thereof,  to  pay  the  surplus, 
if  any,  to  the  owner,  or  his  legal  lepresentative  ;  and  if 
the  said  sale  shall  not  produce  the  sum  required  to  be 
advanced,  with  the  incident  charges  attending  the 
sale,  then  the  said  president  and  directors  may  recover 
the  balance  from  the  original  subscriber,  or  his  as- 
signee, or  the  executor  or  administrator  of  either  of 
them,  by  suit  in  any  court  of  record  having  jurisdic- 
tion thereof,  or  by  warrant  before  any  justice  of  the 
peace  of  the  county  of  which  he  is  a  resident,  and  any 
purchaser  oi  the  stock  of  the  company  under  such  sale 
shall  be  subject  to  the  same  rules  and  regulations  as 
the  original  proprietor.  It  shall,  nevertheless,  be  law- 
ful for  the  said  president  and  directors,  if  they  deem  it 
expedient,  instead  of  selling  the  stock  of  delinquent 
subscribers,  as  contemplated  by  this  section,  to  re- 
cover such  sums  as  may  be  due  the  the  said  company 
from  delinquent  subscribers  by  suit  in  any  court  of  re- 
cord having  jurisdiction  thereof,  or  by  warrant  before 
any  justice  of  the  peace  of  the  county  in  which  such 
delinquent  stockholder  is  a  resident. 

Sec.  8.  Be  it  further  enacted,  That  the  said  rail- 
road and  all  engines,  cars  and  machinery,  and  all  the 
works  of  said  company,  together  with  all  profits  which 
shall  accrue  from  the  same,  and  all  the  proper- 
ty thereof  of  every  description  shall  be  vested  in 
the  said  company,  one  half  thereof  to  the  use  and  be- 
nefit of  the  State,  and  the  other  half  to  the  use  and 
benefit  of  the  individual  stockholders,  and  the  same 
shall  be  deemed  and  held   to  be  personal   estate,  and 


shall  be  exempt  from  an}-  public  charge  or  tax  what- 
soever for  the  term  of  fifteen  years,  and  thereafter  the 
Legislature  may  impose  a  tax  not  exceeding  twenty- 
five  cents  per  annum  on  each  share  of  the  capital  stock 
held  by  individuals  whenever  the  annual  profits  shall 
exceed  eight  percent. 

Sec.  9.  Be  it  further  enacted,  That  in  case 
of  domestic  invasion  or  insurrection,  the  said  company 
shall  transport  the  troops  and  munitions  of  war  of  the 
State  of  North  Carolina  free  of  charge. 

Sec  10.  Be  it  further  enacted  That  the  said 
company  shall  give  no  undue  preference  to  the  prop- 
erty of  one  person  ovar  that  of  another,  but  as  far  as 
practicable  shall  transport  such  in  the  order  of  time  in 
which  it  shall  be  delivered  or  offered  for  transportation, 
the  tolls  thereon  being  first  paid  or  tendered  ;  and  it 
shall  be  la  ■  ful  for  them  to  charge  for  the  transporta- 
tion of  persons,  goods  produce  and  merchandise  and 
for  the  mail  any  sum  not  exceeding  the  following  rates: 
On  persons,  not  exceeding  six  cents  per  mile  for  each 
person,  unless  the  distance  which  any  person  maybe 
transported  should  be  less  than  ten  miles,  in  which 
case,  an  extra  charge  of  fifty  cents  may  be  made  for 
taking  up  and  putting  down  such  persons  ;  for  the 
transportation  of  produce,  goods,  wares,  merchandise 
and  other  articles  not  exceeding  an  average  of  eight 
cents  per  ton,  and  for  the  transportation  ot  the  mail, 
such  sum  as  may  be  agreed  upon  between  the  company 
and  i!io  Tost  Oaioe  Department  of  the  United    Siaies. 

Sec.  II.  Be  it  further  enacted.  That  the  presi- 
dent and  di  rectors  shall  render  distinct  accounts  of 
their  proceedings  and  disbursements  of  money  to  each 
annual  meeting  of  the  stockholders. 


10 

Sec.  12.  Be  it  further  enacted,  That  the  pre- 
sident and  directors  shall  cause  to  be  printed  certfi- 
cates  of  the  shares  of  the  stock  in  the  said  company, 
and,  whenever  the  terms  hereinbefore  mentioned  shall 
have  been  complied  with,  shall  deliver  one  such  certfi- 
cate,  signed  by  the  president  aed  countersigned  by  the 
treasurer,  to  each  person  for  the  number  of  shares  sub- 
scribed by  him,  her  or  them,  or  to  the  assignee  of  such 
subscribers,  which  certficate  shall  be  transferable, 
either  in  person  or  by  attorney,  on  the  books  of  the 
said  company,  and  on  each  such  transfer  the  assignee 
shall  henceforth  become  a  member  of  the  said  com- 
pany and  shall  be  entitled  to  all  the  privileges  and  sub- 
ject to  the  rules  and  regulations  of  the  same. 

Sec  13.  Be  it  further  enacted,  That  whenever 
the  General  Assembly  may  be  of  opinion  that  the  char- 
acters [charters  J  hereby  granted  shall  have  been  vio- 
lated, it  may  be  lawful,  by  joint  resolution  of  the  two 
houses  to  direct  the  attorney  general,  with  such  assis- 
tant counsel  as  the  governor  or  the  Legislature  may 
think  proper  to  engage,  to  issue  a  writ  of  scire  facias 
returnable  before  the  judges  of  the  supreme  court,  call- 
ing upon  the  said  corporation  to  show  cause  why  their 
charters  shall  not  be  forefeited,  subject  to  the  same  pro- 
ceedings as  are  now  prescribed  by  law  in  case  of 
other  corporations.  Their  books  shall  be  at  all  times 
open  to  the  inspection  of  a  committee  of  the  General 
Assembly,  appointed  for  that  purpose,  and  the  presi- 
dent of  said  company  shall  biennially  make  a  report  to 
the  Legislature  on  or  before  the  third  week  of  their 
session,  so  long  as  the  State  shall  remain  a  stock- 
holder, of  their  receipts  and  expenditures  and  of  such 
other  of  their  expenditures  as  he  shall  deem  proper. 


11 

Sec.  14.  B»  it  further  enacted,  That  any  rail- 
road which  may  hereafter  be  constructed  by  the  State, 
or  by  any  company  incorporated  by  the  Legislature, 
shall  be  at  liberty  to  cross  the  road  hereby  allowed  to 
be  reconstructed,  upon  a  level  or  otherwise  as  may  be 
advantageous  :  Provided,  The  free  passage  oi  the 
Raleigh  and  Gaston  Railroad  be  not  thereby  ob- 
structed. 

Sec  15.  Be  it  further  enacted,  That  whenever 
the  said  railroad  shall  be  so  crossed  or  approached  by 
any  other  railroad  incorporated  by  this  State,  the  said 
Raleigh  and  Gaston  Railroad  Company  may  erect  a 
depot  at  or  near  the  point  of  intersection,  where  they 
may  receive  and  deliver  passengers  and  freights  and 
take  therefor  the  same  rates  of  transportation  and  be 
subject  to  the  same  rules  and  regulations  as  at  other 
depots,  and  should  they  fail  or  refuse  to  erect  such 
depots,  the  State  or  company  owning  such  intersect- 
ing road  may  erect  one,  and  the  company  hereby  in- 
corporated shall  receive  and  deliver  passengers  and 
freights  at  such  depots,  under  the  same  regulations  as 
aforesaid,  unless  the  same  shall  be  rendered  impracti- 
cable by  the  situation  of  the  railroad  at  that  place. 

Sec  16.  Be  it  further  enacted,  Tnat  the  profits 
of  the  said  company  shall  be  divided  annually  or  semi- 
annually, at  the  pleasure  of  said  company,  one-half 
thereof  to  the  State  of  North  Carolina,  to  be  paid  to 
the  public  treasurer  of  the  State,  and  the  other  half 
among  the  individual  stockholders,  according  to  their 
respective  shares. 

Sec  17.  Be  it  further  enacted,  That  it  shall  be 
lawful  for  the  said  president  and  directors  to  sell  the 


12 

iron  on  the  Raleigh  and  Gaston  Railroad  and  apply 
the  proce  ds  (hereof  to  the  reconstruction  of  the  said 
road,  except  so  much  of  the  said  iron  hs  was  purchased 
of  Joseph  Anderson,  of  Richmond,  Virginia. 

Sec.  18.  Be  it  further  enacted,  That  to  enable 
the  said  Raleigh  and  Gaston  Railroad  Company  to  ef- 
fect a  junction  and  form  an  actual  connection  with  the 
North  Carolina  Railroad  whenever  the  superstructure 
shall  have  been  laid  on  that  part  of  the  road  of  the 
North  Carolina  Railroad  Company  lying  between 
Raleigh  and  Goldsboro',  as  provided  in  the  52d  section 
of  the  act  incorporating  the  North  Carolina  Railroad 
Company,  the  president  and  directors  are  hereby  in- 
vested with  full  powers  and  authority  to  make  all  ne- 
cessary contracts  for  the  construction  of  said  road  and 
to  resort  to  the  same  means  for  purchasing  or  con- 
demning such  lands  as  may  be  required  therefor  as  are 
provided  in  the  act  incorporating  the  North  Carolina 
Railroad  Company. 

Sec.  10.  "And  whereas,  it  is  provided  by  the 
49th  section  of  the  act  incorporating  the  North  Caro- 
lina Railroad  Company,"  that  whenever  "  the  Roanoke 
Railroad  Company  or  the  Seaboard  and  Roanoke 
Railroad  Company,  with  or  without  the  aid  of  indi- 
viduals, shall  subscribe  to  the  Raleigh  and  Gaston 
Railroad  Company  one-half  of  the  sum  necessary  to 
construct  a  railroad  from  some  convenient  point  on 
the  Ra'eigh  and  Gaston  Railroad,  near  the  Littleton 
depot,  or  any  point  between  that  depot,  Roanoke 
river,  and  the  town  of  Weldon,  or  any  point  in  the 
neighb<  rhood  thereof,  so  as  to  connect  with  the  Wil- 
mington and  Raleigh  Railroad,  and  the  Seaboard  and 
Roanoke  Railroad,  and   shall  expend   the   said  sum  in 


13 

forming  the  said  connection,  then  the  said  Raleigh 
and  Gaston  Railroad  shall  be  extended  to  the  said 
town  of  Weldon,  or  neighborhood  thereof;  and  the 
public  treasurer  is  hereby  authorized  and  directed  to 
subscribe  for  an  equal  sum  for  and  in  behalf  of  the 
State,  and  pay  for  such  subscriptions  out  of  any  mo- 
ney in  the  treasury  not  otherwise  appropriated  ;  and 
for  the  want  of  such  money  in  the  treasury,  the  public 
treasurer  is  hereby  authorized  to  borrow  the  sum  at 
a  rate  of  interest  not  exceeding  six  per  cent,  per  an- 
num, and  to  issue  bonds  payable  at  any  time  within 
ten  years,  for  not  less  than  five  hundred  dollars  each  ;" 
and  whereas,  the  said  Seaboard  and  Roanoke  Railroad 
Company  hath  already  subscribed  to  the  said  Raleigh 
and  Gaston  Railroad  Company,  the  sum  of  seventy- 
five  thousand  dollars  for  the  purpose  of  constructing 
said  road,  which  subscription  hath  been  accepted  by 
the  stockholders  of  the  said  Raleigh  and  Gaston  Rail- 
road Company;  and  whereas,  the  said  road  hath  been 
already  located  and  commenced,  and  a  large  portion 
of  «aid  subscription  hath  already  been  paid  by  the  said 
Seaboard  and  Roanoke  Railroad  Company  towards  the 
construction  of  said  road;  and  whereas,  such  connection 
is  deemed  of  great  importance  to  the  said  Raleigh  and 
Gaston  Railroad  and  to  the  people  of  this  State:  Be 
it  therefore  enacted,  That  the  said  above  recited  sec- 
tion is  hereby  re-affirmed  and  re-enacted  and  declared 
to  be  a  part  of  the  charter  of  said  Raleigh  and  Gaston 
Railroad  Company,  with  the  following  provisions  and 
amendments:  "Now,  that  for  the  purpose  of  render- 
ing the  same  effectual,  and  guarding  the  interest  of  the 
[of  the]  State,  and  of  the  said  Raleigh  and  Gaston 
Railroad  Company,  William  Collins,  Francis  Mallory 
and  Samuel  S.  Roysters,  with  the  agent  or  represen- 
tative of  the  State,  appointed  by  the  board  of  internal 


14 

improvements,  are  hereby  appointed  commissioners  to 
superintend  the  construction  of  said  connection,  and 
the  disbursement  of  the  funds  intended  to  be  applied  to 
the  same,  with  power  to  employ  a  treasurer  for  the  safe 
keeping  and  disbursing  the  funds,  and  to  require  from 
said  treasurer  such  bonds  as  they  may  deem  proper 
for  the  faithful  discharge  of  his  official  duty. 

Sec.  20.  And  be  it  further  enacted,  That  said 
commissioners  shall  have,  and  are  hereby  declared  to 
have  all  the  powers  and  rights  necessary  to  effect  the 
construction  of  the  said  connection,  and  may  in  their 
names  commence  and  prosecute  to  judgment  all  such 
proceedings  as  may  be  requisite  and  proper,  for  the 
purpose  of  condemning  any  lands  which  may  be  re- 
quired for  the  construction  of  said  road,  in  the  man- 
ner, and  on  the  same  process  and  conditions  as  are 
prescribed  in  the  act  incorporating  the  said  North 
Carolina  Railroad  Company  ;  and  whereas  it  may  be 
necessary  for  the  Raleigh  and  Gaston  Railroad  Com- 
pany to  form  a  connection  from  the  town  of  Weldon, 
with  the  navigable  waters  of  the  Roanoke  River  below 
said  town,  so  as  to  connect  with  the  steamboats  and 
vessels  navigating  the  Roanoke  River  and  Albemarle 
Sound : 

Therefore,  be  it  enacted,  That  the  president  and 
directors  of  the  said  Raleigh  and  Gaston  Railroad  Com- 
pany be,  and  they  are  hereby  authorized  and  empow- 
ered, whenever  they  may  deem  it  expedient  to  extend 
their  railroad  to  the  navigable  water  of  the  Roanoke 
River,  and  they  are  hereby  vested  with  full  power  and 
authority  to  make  all  necessary  contracts  for  the  con- 
struction of  said  railroad,  and  to  resort  to  the  same 
means  for  purchasing  or  condemning  such  lands  as 


15 

may  be  required  therefore,  [therefor]  as  are  provided 
in  the  act  incorporating  the  North  Carolina  Railroad 
Company. 

Sec.  21.  Pe  it  further  enacted,  That  whenever 
the  said  road  shall  have  been  completed,  it  shall  be  the 
duty  of  the  said  commissioners  to  make  out  a  duplicate 
return  of  their  proceedings,  stating  the  particulars  of 
the  cost  of  the  construction  of  said  road,  one  of  which 
shall  be  made  to  the  Governor  of  the  State,  the  other 
to  the  president  of  the  Raleigh  and  Gaston  Railroad 
Company,  and  upon  the  same  being  accepted,  the  cost 
of  said  construction  shall  be  added  to  and  constitute 
a  part  of  the  capital  stock  of  the  said  Raleigh  and 
Gaston  Railroad  Company,  at  the  rate  of  one  share  for 
each  hundred  dollars  of  such  cost,  arid  shall  vest  one  half 
in  the  State  of  North  Carolina,  and  one  half  in  such  cor- 
poration or  individuals  as  may  have  subscribed  to  trfe 
said  stock,  according  to  the  respective  amounts  of  such 
subscription,  their  executors,  administrators  or  assigns, 
and  shall  be  for  such  amount  an  increase  of  the  capi- 
tal stock  of  said  Raleigh  and  Gaston  Railroad  Compa- 
ny over  and  above  the  sum  of  eight  hundred  thousand 
dollars  hereinbefore  declared  to  be  the  capital  of  the 
said  company,  and  thereupon  the  said  Raleigh  and 
Gaston  Railroad  shall  be  extended  to  the  said  town  of 
Weldon  or  such  point  in  the  vicinity  thereof  as  such 
connection  may  be  formed,  and  all  the  lands  purchas- 
ed or  condemned  for  the  construction  of  said  road  to- 
gether with  all  materials  used  in  the  construction  there- 
of, depots,  ware-houses  and  all  other  property  pertain- 
ing to  the  same,  and  all  privileges,  rights  and  powers 
which  may  be  necessary  for  doing  the  transportation 
of  freights  and  passengers  on  said  road,  shall  be,  and 
the  same  are  hereby  declared   to  be  vested  in  the  said 


Microfilmed 
SOLINET/ASERL  PROJECT* 


18 

Raleigh  and  Gaston  Railroad  Company  in  the  same 
manner,  and  to  the  same  intent,  as  if  such  conneclion 
had  constituted  a  portion  of  the  original  Raleigh  and 
Gaston  Railroad. 

Sec.  22.  Be  it  further  enacted,  That  in  the 
event  of  vacancy  in  the  said  board  of  commissioners,  by 
death,  resignation  or  otherwise,  such  vacancy  shall  be 
supplied  by  the  president  and  directors  of  the  Raleigh 
and  Gaston  Railroad  Company. 

Sec.  23.  Be  it  further  enacted,  That  it  shall  and 
may  be  lawful  for  the  president  and  directors  of  the 
said  Raleigh  and  Gaston  Railroad  Company  to  contract 
wi.h  the  president  and  directors  of  the  Roanoke  Val- 
ley Railroad  or  with  the  president  and  directors  or 
managers  of  any  other  railroad  connecting  with  the 
safd  Raleigh  and  Gaston  Railroad,  for  doing  the  trans 
portation  of  freight  and  passengers  on  such  road  or 
roads  upon  such  terms  as  may  be  agreed  on  between 
them. 

Sec.  24.  Be  it  further  enacted,  That  this  act 
shall  take  effect  immediately  from  and  after  its  accept- 
ance by  three-fourths  of  the  stockholders  of  said  Ra- 
leigh and  Gaston  Railroad  Company  in  general  meeting 
assembled — acceptance  to  be  signified  to  the  governor 
of  the  state  by  the  president  of  said  company,  under 
the  great  seal  of  the  same  and  shall  continue  in  force 
for  the  term  of  ninety  years  from  and  after  such  ac- 
ceptance. 

[Read  three  times  and  ratified  in  General  Assembly, 
this  25th  day  of  December,  A.  D.,  1852.] 


UNIVERSITY  OF  N.C.  AT  CHAPEL  HILL 


00042072158 


FOR  USE  ONLY  IN 
THE  NORTH  CAROLINA  COLLECTION 


Form  No.  A-368,  Rev.  8/95 


